AMFI September Data: Inflows into equity mutual funds dropped 9% to ₹30,421 crore against ₹33,430 crore in August.
Last month, inflows into equity funds dropped by 22% month-on-month.
Inflows into equity funds across market cap saw a decline: large cap, mid cap and small caps fell by 18%, 4.5%, 12.6%, respectively.
Meanwhile, inflows into flexi cap funds also dropped to ₹7,029 crore against ₹7,679 crore in the preceding month.
However, given the spike in gold prices, gold ETFs saw a massive jump in inflows to ₹8,363 crore against ₹2,189 crore.
New fund offers
September also saw nine new fund launches (NFOs) which collectively raised a total of ₹1,959 crore. Of these, there was one sectoral/thematic fund (Baroda BNP Paribas Business Conglomerates Fund), one hybrid fund and others were index funds.
Anand Vardarajan, Chief Business Officer, Tata Asset Management, says “Equity numbers continue to remain fairly strong despite the Nifty being flat over the past year. It is heartening to note that primary market activity was robust in September with several IPOs, while equity flows also remained strong in the secondary markets. Precious metals, particularly gold and silver, have performed very well in the last couple of months. Flows into gold nearly quadrupled in September, rising from about ₹2,000 crore in August to around ₹8,300 crore. This surge was largely driven by strong performance as well as investors seeking safety and diversification. In the same vein, multi-asset funds saw strong flows within the hybrid category. Debt flows, however, turned negative, primarily due to quarter-end liquidity requirements. Festive season spending may also have contributed to the weak/negative flows in this segment.”
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